Barclays Initiates Coverage on Vornado Realty Trust (NYSE:VNO)

Barclays started coverage on shares of Vornado Realty Trust (NYSE:VNO) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set an “underweight” rating and a $22.00 price target on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential downside of 23.53% from the stock’s previous close.

Several other equities research analysts also recently issued reports on VNO. Truist Financial boosted their price objective on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Piper Sandler increased their price objective on shares of Vornado Realty Trust from $16.00 to $25.00 and gave the company an “underweight” rating in a research note on Wednesday, December 20th. TheStreet raised shares of Vornado Realty Trust from a “d+” rating to a “c-” rating in a report on Thursday, December 28th. Citigroup increased their target price on shares of Vornado Realty Trust from $12.00 to $18.00 and gave the stock a “sell” rating in a report on Tuesday, November 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.80.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $28.77 on Wednesday. The firm has a 50 day simple moving average of $26.51 and a 200-day simple moving average of $25.10. The company has a debt-to-equity ratio of 1.82, a current ratio of 4.95 and a quick ratio of 4.95. The firm has a market cap of $5.48 billion, a PE ratio of 125.09 and a beta of 1.56. Vornado Realty Trust has a 1-year low of $12.31 and a 1-year high of $32.21.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The company had revenue of $441.89 million for the quarter, compared to analyst estimates of $453.82 million. During the same period last year, the company posted $0.72 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts expect that Vornado Realty Trust will post 2.3 EPS for the current year.

Hedge Funds Weigh In On Vornado Realty Trust

Large investors have recently made changes to their positions in the business. Nomura Holdings Inc. grew its stake in Vornado Realty Trust by 2,410.2% in the 4th quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after buying an additional 934,271 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Vornado Realty Trust by 14.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 389,656 shares of the real estate investment trust’s stock valued at $11,008,000 after acquiring an additional 49,228 shares in the last quarter. Prospect Financial Services LLC acquired a new stake in shares of Vornado Realty Trust during the 4th quarter valued at about $1,426,000. Public Employees Retirement System of Ohio boosted its position in shares of Vornado Realty Trust by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 303,598 shares of the real estate investment trust’s stock valued at $8,577,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Vornado Realty Trust by 3.1% in the fourth quarter. Legal & General Group Plc now owns 2,302,943 shares of the real estate investment trust’s stock valued at $65,058,000 after buying an additional 69,565 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.